INVESCO PERPETUAL SELECT TRUST PLC
Headline: Conversion of Shares
The Board of Invesco Perpetual Select Trust plc (the 'Company') announces that
valid Conversion Notices have been received in respect of:
66,966 UK Equity Shares
5,575 Global Equity Income Shares
69,746 Balanced Risk Shares
28,966 Managed Liquidity Shares
The respective Conversion Ratios were as follows:
* For every UK Equity Share converted, holders will receive 1.071188 Global
Equity Income Shares, 1.404828 Balanced Risk Shares or 1.518215 Managed
Liquidity Shares;
* For every Global Equity Income Share converted, holders will receive
0.933543 UK Equity Shares, 1.311467 Balanced Risk Shares or 1.417319
Managed Liquidity Shares;
* For every Balanced Risk Share converted, holders will receive 0.711831 UK
Equity Shares, 0.762505 Global Equity Income Shares or 1.080713 Managed
Liquidity Shares;
* For every Managed Liquidity Share converted, holders will receive 0.658668
UK Equity Shares, 0.705557 Global Equity Income Shares or 0.925315 Balanced
Risk Shares.
The Conversion Ratios, which will be effective on 1 February 2016, are based on
the relative net asset values of the Company's Share classes as at close of
business on 21 January 2016.
Individual Shareholders' entitlements on conversion on 1 February 2016 will be
rounded down to the nearest whole number of Shares. Fractional entitlements
will be aggregated and sold in the market. The Shares arising or allotted
pursuant to the conversion will rank pari passu with the existing Shares of the
relevant class and, for the avoidance of doubt, will not rank for the dividends
declared on 14 January 2016 in respect of the UK Equity and Global Equity
Income Shares.
The net changes to the number of shares outstanding following the conversion
and allotments are as follows:
-52,730 UK Equity Shares
+112,717 Global Equity Income Shares
-46,947 Balanced Risk Shares
-28,966 Managed Liquidity Shares
+26,109 Deferred Shares
Following the conversion, the total number of listed Shares in issue (excluding
shares held in treasury) will be:
39,974,244 UK Equity Shares
33,108,029 Global Equity Income Shares
7,335,326 Balanced Risk Shares
5,055,990 Managed Liquidity Shares
The Company has applied for the following numbers of Shares arising or allotted
pursuant to conversion to be admitted to the Official List and to trading on
the London Stock Exchange:
14,236 UK Equity Shares
118,292 Global Equity Income Shares
22,799 Balanced Risk Shares
Dealings in such shares are expected to commence at 8.00 a.m. on 2 February
2016. It is expected that Certificates in respect of the Resulting Shares will
be posted by 12 February 2016.
The Deferred Shares arising on the conversion will be cancelled.
.
The remaining conversion dates for 2016 and those for 2017 are set out below.
Elections for conversion must be received by close of business ten days prior
to the respective conversion date. Where that day is not a business day,
elections by way of CREST must be transmitted and properly authenticated by
3.00pm on the last preceding business day. Written elections will be accepted
if received by the first post on the following business day.
Conversion Date Date by which elections for
conversion must be received
3 May 2016 23 April 2016
1 August 2016 22 July 2016
1 November 2016 22 October 2016
1 February 2017 22 January 2017
2 May 2017 22 April 2017
1 August 2017 22 July 2017
1 November 2017 22 October 2017
Instructions on how to convert Shares on any conversion date are available on
the web pages of all the share classes on the Investment Manager's website:
www.invescoperpetual.co.uk/investmenttrusts and from the Company Secretary.
28 January 2016
Contact: Angus Pottinger 020 3753 1000